That way, you perform the renovations and are guaranteed to have it purchased directly afterwards.

For this particular loan, I neglected to mention that I pre-negotiated a guaranteed renewal/refinance at prevailing market rates, so basically, this loan can better be viewed as a 20 year amortization/TBD term/"variable rate" with the first adjustment (from the initial 4% to prevailing market rates)  occurring at the 6 year mark.Make sense?

Your IRA can get a loan, but you cannot personally guarantee it.  

Where will you be hiring your sub-contractors from and how do you guarantee the quality of their work?

I guarantee there are agents in your town that will be more responsive to your needs.  

The transaction costs are the issue for buying and selling, closing, stamp tax, I believe NY requires 2 lawyers, etc.Future appreciation is guaranteed to no one.  

This eliminates any risk on your part but guarantees that they they won't sell it from under you.

Do I say that is guaranteed and there are no problems?

I am only home for one weekend a month so I do not think having a roommate will bother me.As far as my job, I plan on staying at least a few years, but it is one of those jobs that tomorrow is not guaranteed because you are responsible for so much.

The financing part of this and personal guarantees might need to be taken into account too.